Funding you earn now, next payment 23:00 UTC+0.0465%/8h= +50.9% APRnext payment +$0.58 per $10,000 · paid last 24h +0.059%
Price spread now: Backpack against Reya+0.166%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Backpack is 0.166% dearer against Reya than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya SRUSDPERP | 0.03923 | −0.0101 | get 0.0013% / 1h | 54m 55s | $4 | — | 15x |
| Short | Backpack S_USDC_PERP | 0.03930 | 0.0363 | get 0.0045% / 1h | 54m 55s | $114K | $298K | 5x |
Reya SRUSDPERP
Backpack S_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $97.59
- Price spread: +0.166% → 0.000%
- $16.6
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $98.19
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Backpack: live order book, 28 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Reya no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 28 min ago | 12.71 bp | 32.3 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
S on 25 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SUSD | −0.1593% | 1h | 0.03923 | −0.019% | $33K | $30K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1576% | 1h | 0.03826 | −2.485% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0793% | 4h | 0.03918 | −0.136% | $609K | $34K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0193% / S +0.0186% | 1h | 0.03930 | +0.169% | $1K | — | 100x | as long as short |
| 01 Exchange SUSD | −0.0160% | 1h | 0.03920 | −0.089% | $24K | $3K | 5x | as long as short |
| Reya SRUSDPERPlong | −0.0101% | 1h | 0.03923 | long leg | $4 | — | 15x | |
| Deribit S_USDC-PERPETUAL | −0.0004% | 1h | 0.03931 | +0.192% | $66K | $10K | 10x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03930 | +0.163% | $606 | — | 150x | as long as short |
| Hyperliquid S | +0.0009% | 1h | 0.03925 | +0.036% | $985K | $878K | 5x | as long as short |
| Orderly PERP_S_USDC | +0.0020% | 4h | 0.03926 | +0.064% | $100K | $350K | 10x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
01 Exchange SUSD
Deribit S_USDC-PERPETUAL
gTrade (Gains Network) S/USD
Hyperliquid S
Orderly PERP_S_USDCShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.499% | $2K | $37K | 12x | as long as short |
| Aster SUSDT | +0.0043% | 4h | 0.03927 | +0.077% | $43K | $212K | 10x | as long as short |
| Lighter S | +0.0096% | 1h | 0.03929 | +0.141% | $165K | $222K | 5x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03925 | +0.039% | $5.4M | $22.2M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03919 | −0.114% | $5.6M | $6.2M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03924 | +0.013% | $979K | $7.0M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03917 | −0.165% | $320K | $265K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03927 | +0.090% | $3.5M | $2.3M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03922 | −0.038% | $1.8M | $3.1M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03924 | +0.013% | $1.2M | $2.8M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03924 | +0.013% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03920 | −0.089% | $23K | $469K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03923 | −0.010% | $221K | $883K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03918 | −0.140% | $268K | $132K | 75x | as long as short |
| Backpack S_USDC_PERPshort | +0.0363% | 1h | 0.03930 | +0.166% | $114K | $298K | 5x |
Injective S/USDC PERP
Aster SUSDT
Lighter S
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT